The financial year 2019-20 posed serious challenges to the world economy, including India. The impact of the economic slowdown of 2019 and the COVID-19 pandemic of 2020 will be felt for some time to come. And the financial services industry, which underpins all economic activity, has had to adapt quickly.
Kotak as a Group has faced several crises before and has emerged stronger from each. This time too, it has retained its firm footing and is looking to strengthen itself in these uncertain times, while keeping an eye on opportunities ahead.
In this ‘new normal’, Kotak Mahindra Bank will:
Persevere through the raging storm. The Bank’s strong capital position, stable deposit base and asset quality gives it the resilience to weather a crisis. Its focus on prudence, pragmatism and transparency, together with a diversified business model, will help it navigate the rough waters, protecting its own business interests and those of its stakeholders.
Pioneer new technologies, charting new routes for a new world. The world is changing, and so is Kotak. Its investments in digital banking and technology over the past few years have paid rich dividends, especially during the COVID-19 crisis. The Group will increase its focus on technology as it moves forward into a changing world.
Prosper with an eye on opportunities beyond the stormy horizon. Kotak has faced rough storms before and seen the opportunities that lay beyond the crises of the past three decades. The Group believes, once again, that opportunities to create value for its stakeholders will emerge from this crisis.
Grounded in its prudent approach to banking and led with a clear north-star vision of being a world-class financial services conglomerate, Kotak is determined to Persevere. Pioneer. Prosper.